CurrencyFair vs Monzo - Who is better? [UPDATED 2024]

When it comes to sending money across borders, we tested options like CurrencyFair and Monzo have emerged as leading choices. Both CurrencyFair and Monzo online platforms offer efficient and cost-effective and secure international money transfers from CurrencyFair and Monzo.

We compare CurrencyFair vs Monzo into the unique features and benefits that distinguish CurrencyFair vs Monzo, empowering you to make an informed decision based on your specific transfer needs like CurrencyFair vs Monzo fees, currencies available, available payment methods on CurrencyFair compared to Monzo, support options offered by CurrencyFair vs Monzo, speed and more.

CurrencyFair vs Monzo: Quick Feature Comparison

  1. Visit CurrencyFair alternative CurrencyFair Visit CurrencyFair

    Used By: 150,000
    Currencies Available: 17
    Transfer Fees: 0.45%
    Payment Methods: Bank transfer, debit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: £5.00 (or equivalent)
    Max Transfer: £10,000,000.00 (or equivalent)
    Year Founded: 2009

  2. Visit CurrencyFair alternative Monzo Visit Monzo

    Used By: 5,000,000
    Currencies Available: 1
    Transfer Fees: none
    Payment Methods: bank transfer, phone contact
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 10000 GBP
    Year Founded: 2015

CurrencyFair vs Monzo: Pros and Cons

CurrencyFair vs Monzo
Advantages

CurrencyFair Advantages Monzo Advantages
  • CurrencyFair has been serving clients for over 15 years
  • CurrencyFair is well rated among clients.
  • CurrencyFair is available internationally.
  • CurrencyFair has multiple currency options.
  • CurrencyFair provides phone customer support.
  • CurrencyFair provides email customer support.
  • CurrencyFair is available to iOS Apple device users.
  • CurrencyFair is available to Android mobile device users.
  • Monzo boasts a high rating for sending money.
  • Monzo provides phone support.
  • Monzo offers registered customers email support.
  • Monzo has a Apple iOS app on Apple app store.
  • Monzo offers a Android Google Play Store mobile app.

CurrencyFair vs Monzo
Disadvantages

CurrencyFair Disadvantages Monzo Disadvantages
  • CurrencyFair has no PayPal support.
  • CurrencyFair has no Neteller payments support.
  • CurrencyFair has no Skrill payment support.
  • CurrencyFair does have a mobile digital wallet like some others.
  • No home delivery with CurrencyFair.
  • No cash pickups with CurrencyFair.
  • No money order support with CurrencyFair.
  • No live chat support with CurrencyFair.
  • Monzo has no PayPal option.
  • Monzo has no Neteller option.
  • Monzo has no Skrill option.
  • Monzo is not available is as many regions as some other providers.
  • Monzo has few fiat currency then some others.
  • No digital wallets with Monzo.
  • No Monzo home delivery.
  • No Monzo Cash pickups.
  • No Monzo money order option.
  • No Monzo Livechat.

CurrencyFair vs Monzo Fees and Other Costs

Fee type CurrencyFair Fees Monzo Fees
Transfer Fees 0.45% none
Min Transfer £5.00 (or equivalent) none
Max Transfer £10,000,000.00 (or equivalent) 10000 GBP
Payment Methods Bank transfer, debit card bank transfer, phone contact
Currencies AED, EUR, PLN, AUD, GBP, SEK, CAD, HKD, SGD, CHF, HUF, USD, CZK, NOK, ZAR, DKK, NZD GBP

CurrencyFair vs Monzo Restricted Countries

CurrencyFair Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

Monzo Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

CurrencyFair vs Monzo Transfer Speeds

Transfer Speed CurrencyFair Monzo
Account Opening 1-3 days 1-3 days
Money Transfer Speed 1-10 days 1-10 days

CurrencyFair vs Monzo Languages

CurrencyFair Supported Languages

English, French, German

Monzo Supported Languages

CurrencyFair vs Monzo Verdict - Which is better?

Which is best out of CurrencyFair and Monzo depends on your needs.

  • CurrencyFair vs Monzo Transfer Fees: Transferring money with CurrencyFair costs 0.45% while Monzo charges none.
  • CurrencyFair vs Monzo Supported Currencies: CurrencyFair deals in over 1, where as Monzo offers transactions in 1.
  • CurrencyFair vs Monzo Payment Methods: CurrencyFair accepts Bank transfer, debit card, while Monzo allows transactions via bank transfer, phone contact.
  • CurrencyFair vs Monzo Transfer Limits: CurrencyFair allows transfers between £5.00 (or equivalent) and £10,000,000.00 (or equivalent). Monzo's range is none to 10000 GBP.
  • CurrencyFair vs Monzo Minimum Age for Account Creation: CurrencyFair requires users to be at least 18 years old, where as Monzo has a minimum age requirement of 18.
  • Contact Number: You can reach CurrencyFair at +353 1 526 8411 and Monzo at 00 44 20 3872 0620.
  • CurrencyFair vs Monzo Countries of Operation: CurrencyFair operates in over 1 countries but has restrictions in over 1 countries. Monzo serves 1 countries and restricts operations in 1 countries.
  • CurrencyFair vs Monzo Client Base: CurrencyFair is used by 150, where as Monzo serves 5.
  • CurrencyFair vs Monzo Year Founded: CurrencyFair was established in 2009 and Monzo began its operations in 2015.
  • CurrencyFair vs Monzo Customer Rating: CurrencyFair holds a rating of 4, in contrast, Monzo has a rating of 3.
  • CurrencyFair vs Monzo Headquarters: CurrencyFair has its headquarters at Dublin, Ireland, while Monzo is based at London, UK.
  • CurrencyFair vs Monzo Employee Count: CurrencyFair employs 99 individuals, where as Monzo has a team of 1,551.
  • CurrencyFair vs Monzo Estimated Annual Turnover: CurrencyFair turnover stands at 64,000,000 USD, while Monzo boasts a turnover of 80000000.
  • CurrencyFair vs Monzo Founder: CurrencyFair was founded by Paul Byrne, holding the position of CEO & President. On the other hand, Monzo was the brainchild of Carol Kobuke Nelson, currently holding the position of CEO.
  • CurrencyFair vs Monzo Supported Languages: CurrencyFair offers support in over 1 languages. Monzo communicates in 1.

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Screenshots

CurrencyFair Screenshot

CurrencyFair Screenshot

Monzo Screenshot

CurrencyFair Screenshot